Riverquode review

Withdrawal Fees

Riverquode entitles fully verified clients who have executed at least one trade to a single free withdrawal. If an account is unverified or verified but without any trades, a fee of USD 10 (or equivalent) applies. Subsequent withdrawals incur fees based on the chosen method: debit cards incur 3.5% of the amount; credit card fees vary per processor; wire transfers cost USD 30 (or equivalent); and prepaid cards or e‑wallets follow third‑party provider terms. All external processing or currency conversion charges are borne by the client and may be debited directly from the trading account.

Deposit Fees

Riverquode does not levy any fees on deposits. However, clients may face processing or currency exchange fees imposed by their payment provider, depending on the deposit method selected.

Inactivity Fees

To compensate for platform and account maintenance, Riverquode applies inactivity fees on dormant accounts (no deposits, withdrawals, or new positions). The fee schedule is as follows:

• 0–30 days dormant: USD 0
• 31–60 days dormant: USD 100
• 61–180 days dormant: USD 250
• Over 180 days dormant: USD 500
  Clients receive email or platform notifications before any inactivity fee is charged.

Spread Information

Spreads represent the difference between bid and ask prices, and all trading costs are built into these spreads. They fluctuate with market volatility, trading hours, and liquidity. Spreads are quoted in pips and apply each time a position is opened; you can view real‑time spread figures on the WebTrader platform.

Swap (Overnight Funding) Charges

Positions held past market close incur swap or rollover fees, calculated as an interest differential between currencies or underlying instruments. For forex, commodities, and indices, swaps may be credited or debited depending on the direction of the position and interbank rate differentials. A three‑day swap is applied on Wednesdays to cover weekend rollovers. Live swap rates for each instrument are accessible within the contract specifications on the platform.

Additional Notes

All fees are subject to change with prior notice. Clients should consult their account manager or support team for clarification before initiating transactions that may incur charges. Riverquode reserves the right to adjust fees based on market conditions, regulatory requirements, or operational cost changes.

Regulatory Disclosures

This Fees Policy complies with the FSCA’s Treating Customers Fairly framework. It is the client’s responsibility to review this policy regularly to stay informed of any updates.

Regulatory Authority & Licensing

Riverquode operates under the legal entity AzurevistaFX (Pty) Ltd, fully licensed by South Africa’s Financial Sector Conduct Authority (FSCA) under FSP licence number 52830. This authorization requires Riverquode to comply with stringent capital adequacy, reporting, and conduct standards designed to protect clients and ensure market integrity.

Client Funds Segregation

In accordance with FSCA rules, all client deposits are held in segregated accounts at tier-1 South African banks, kept entirely separate from the broker’s own operating funds. This structure ensures that client assets remain protected and accessible for return even in the unlikely event of broker insolvency.

Negative-Balance Protection & Risk Management

As part of its regulatory commitments, Riverquode provides full negative-balance protection, guaranteeing that clients cannot lose more than their deposited capital. Combined with real-time margin monitoring and automated margin-call mechanisms, these measures help prevent excessive losses and promote responsible trading.

Compliance & Fair Treatment

Riverquode adheres to the FSCA’s Treating Customers Fairly framework, which mandates transparent disclosure of all fees, risks, and product features. The broker submits regular audit and compliance reports, maintains a clear complaints escalation process, and enforces strict anti-money-laundering (AML) and know-your-customer (KYC) procedures to safeguard both the company and its clients.

Ongoing Oversight & Updates

The FSCA routinely reviews licensees for compliance with evolving regulations. Riverquode commits to implementing any new regulatory requirements promptly—whether related to leverage caps, product governance, or reporting standards—and keeps clients informed of all material changes through its website and client communications.

Deposits

Riverquode does not charge any fees on client deposits—whether you fund your account via credit/debit card, international wire transfer, or supported e-wallet. However, your bank or payment provider may apply their own processing or currency-conversion fees, so it’s wise to check with them before initiating a transfer.

Withdrawals

Every fully verified Riverquode client who has executed at least one trade receives one free withdrawal. If your account is unverified or you’ve not yet traded, a USD 10 (or equivalent) fee applies. After your complimentary withdrawal, subsequent requests incur method-specific charges: debit-card withdrawals cost 3.5% of the amount; credit-card fees vary by processor; wire transfers carry a USD 30 fee; and prepaid cards or e-wallets follow the third-party provider’s terms. Any external bank or conversion fees are the client’s responsibility.

By regulation, every new client must go through some basic compliance checks to ensure that you understand the risks of trading and are admitted to trading. When you open an account, you will probably be asked for the following items, so it is good to have them handy: A scanned colour copy of your passport or national ID A utility bill or bank statement from the last six months with your address You will also need to answer a few basic compliance questions to confirm how much trading experience you have. It is therefore best to take at least 10 minutes to complete the account opening process. Although you can explore the demo account immediately, it is important to note that you cannot make any real trading transactions until you have passed compliance, which can take up to several days depending on your situation.

Classic Account

The Classic Account at Riverquode requires a minimum deposit of USD 250 and is ideal for new traders seeking straightforward access to global markets. It features spreads starting from 2.5 pips on EUR/USD, full standard swap rates (no discounts), leverage up to 1:400 on forex, and negative-balance protection. There are no commission fees—costs are embedded in spreads—and traders benefit from one free withdrawal upon completing their first trade.

Silver Account

Building on the Classic tier, the Silver Account also opens at USD 250 but adds a swap-discount feature, reducing overnight funding costs on held positions. Spreads tighten to 2.5 pips on EUR/USD and to 2.8 pips on XAU/USD, with the same maximum leverage of 1:400. Silver clients receive enhanced customer support and retain negative-balance protection, with identical deposit and withdrawal terms as Classic.

Gold Account

The Gold Account is designed for active traders, maintaining the USD 250 minimum deposit while offering spreads from 1.8 pips on EUR/USD and 2.3 pips on XAU/USD. Swap fees are further discounted, and leverage remains up to 1:400 for forex. Gold clients enjoy priority support, faster withdrawal processing, and comprehensive market-analysis snippets integrated into the WebTrader dashboard.

Platinum Account

At the Platinum level, traders still start with USD 250 but gain access to spreads from 1.4 pips on EUR/USD and 2.0 pips on XAU/USD, along with the discounted swap rates of the Gold tier. Leverage caps remain unchanged. Platinum account holders benefit from a personal account manager, deeper research insights, and expedited funding and withdrawal settlements, all backed by full negative-balance protection.

VIP Account

Tailored for professional and high-volume traders, the VIP Account unlocks the tightest spreads—0.9 pips on EUR/USD and 1.4 pips on XAU/USD—plus the deepest swap discounts, leverage up to 1:400 on forex, and dedicated 24/5 VIP support. Minimum deposit requirements remain USD 250. VIP clients receive bespoke market reports, bespoke execution options, and the highest priority on withdrawals and platform feature rollouts.

Email support@riverquode.com with your account-closure request; Riverquode will terminate the account and refund any remaining balance within 15 days.

Customer Support Channels

Riverquode offers multiple ways for clients to get help. You can reach their support team via live chat directly within the WebTrader interface, send an email to support@riverquode.com, or call their 24/5 multilingual phone line at +44 20 3150 0978. Each channel is monitored by trained representatives who can assist with technical issues, trading inquiries, or account management.

Support Hours & Response Times

Their support desk operates 24 hours a day, five days a week, aligning with global market hours. Live-chat and phone requests are typically answered within minutes, while email inquiries receive a detailed response within one business hour. Priority handling is given to time-sensitive issues such as trade execution errors or withdrawal concerns.

VIP & Dedicated Account Management

VIP clients benefit from a dedicated account manager who provides personalized guidance, market insights, and faster resolution of any issues. Platinum-tier traders also have access to an assigned relationship specialist. These premium services include regular check-ins, performance reviews, and proactive alerts about new features or market events.

Educational & Self-Service Resources

To support self-help, Riverquode maintains an extensive online FAQ library, interactive contract specification sheets, and an integrated economic calendar within the platform. News feeds and daily market analysis snippets help traders stay informed without leaving their trading screen.

Multilingual Support & Compliance

Riverquode’s support team speaks a range of languages, including English, French, Mandarin, Portuguese, Spanish, Thai, Hindi, Malay, and Italian, ensuring clear communication for a diverse, international client base. All customer service practices adhere to the FSCA’s Treating Customers Fairly (TCF) framework, with transparent escalation procedures and documented service-level commitments.

WebTrader Platform

Riverquode’s proprietary WebTrader is a fully browser-based platform that requires no downloads or installations. It delivers real-time pricing, one-click order execution, and a suite of customizable charting tools (multiple timeframes, drawing objects, and built-in indicators). Traders can place market, limit, stop-loss, and take-profit orders directly from the chart, monitor their open positions in a transparent trade ticket, and access an integrated economic calendar and live news feed—all within a single, responsive interface.

Mobile Accessibility (Upcoming)

While WebTrader is mobile-friendly and adapts seamlessly to smartphones and tablets, Riverquode is currently developing dedicated iOS and Android apps to bring full desktop functionality to mobile devices. The upcoming apps will include push-notification alerts, simplified order placement, and on-the-go account management, ensuring that traders stay connected to the markets wherever they are.

Having reviewed Riverquode’s account offerings and trading conditions, let’s now delve into the variety of trading instruments available on their WebTrader platform. Each asset class is offered as CFDs with specific contract specifications, expiry cycles, and competitive spreads to suit different trading strategies.

Forex

Riverquode offers over 40 currency pairs, including all major pairs (EUR/USD, GBP/USD, USD/JPY) and a selection of minors and exotics. Forex CFDs trade with spreads starting from 0.8 pips on majors, and leverage up to 1:400. Contracts roll over daily with no fixed expiry, allowing traders to hold positions indefinitely subject to swap charges.

Metals

CFDs on precious metals include Gold (XAU/USD) and Silver (XAG/USD). Spreads start from 0.03 for Gold and 0.004 for Silver, with maximum leverage of 1:200. These instruments also roll over daily, enabling both short-term trading and longer-term hedging against market volatility.

Indices

Riverquode provides CFDs on major global indices such as US30 (Dow Jones), SPX500 (S&P 500), UK100 (FTSE 100), and more. Typical spreads begin at 1.2 points for SPX500 and 3 points for US30, with leverage up to 1:200. Index CFDs expire quarterly, and contract specifications are updated on a fixed schedule.

Commodities

Energy and agricultural commodities – including Brent and WTI crude oil, Natural Gas, Coffee, and Wheat – are available as CFDs. Spreads start from 0.05 for Crude Oil and 0.5 for Gas, with leverage up to 1:200. Commodity contracts have daily rollovers, offering flexibility for intraday and swing trading.

Stocks & Equities

Over 1,000 individual share CFDs from leading global exchanges (e.g., NYSE, NASDAQ, LSE) are accessible. Spreads vary by underlying stock, typically from 0.15% of the share price, with maximum leverage of 1:5. Equity CFDs have fixed monthly expiries, aligning to the underlying market’s settlement cycle.

Cryptocurrencies

CFDs on popular cryptocurrencies – Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD), and others – trade around the clock. Spreads start at 20 USD for BTC/USD and 2 USD for ETH/USD, with leverage capped at 1:5. Crypto CFDs are perpetual, with daily funding fees reflecting the underlying market’s borrowing costs.